The global severe asthma treatment market is experiencing robust growth and is forecasted to continue its upward trajectory over the next decade. The market, valued at USD 22 billion in 2023, is expected to reach USD 36.18 billion by 2033, growing at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2033.
This impressive market expansion can be attributed to several key factors, including the rising prevalence of asthma and the broadening range of treatment options available to patients worldwide. The increasing number of asthma cases, particularly severe asthma, has prompted heightened demand for effective and innovative treatment solutions, driving growth across the market.
In the historical period from 2018 to 2022, the severe asthma treatment market grew at a steady CAGR of 3.3%, laying the foundation for the anticipated surge in market value. The continued development of novel biologic therapies and advancements in personalized treatment plans are expected to further fuel this expansion.
Key Market Drivers:
- Increasing Prevalence of Asthma: With asthma rates on the rise globally, there is an urgent need for better treatment options to manage severe cases.
- Diverse Treatment Options: The market is benefiting from a wide array of therapeutic alternatives, from inhaled corticosteroids to advanced biologics, providing patients with more effective management solutions.
- Innovation in Treatment Modalities: Ongoing research and development efforts are bringing new treatments to market, improving the quality of life for individuals living with severe asthma.
As the market continues to evolve, industry experts predict that severe asthma treatment options will become increasingly specialized, helping to better address the unique needs of asthma patients. With continued advancements in drug development and treatment protocols, the future of severe asthma care looks promising, offering hope for millions of individuals suffering from this chronic condition.
Key Takeaways from the Market Study
- Severe asthma treatment market is expected to register a CAGR of 5.1% in the forecast period 2023-2033
- Inhaled route of administration is expected to possess 40% market share for severe asthma treatment market in 2023.
- North America is expected to possess 45% market share for severe asthma treatment market in 2023.
- Europe severe asthma treatment market size is expected to possess 39% market share in 2023.
“Advancements in treatments along with innovation of treatment options is expected to favor the growth of the market in the upcoming years.” states an FMI analyst
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Competitive Landscape:
Key players in the severe asthma treatment market are Teva Pharmaceutical, AstraZeneca, GlaxoSmithKline, Novartis, Sanofi, Regeneron Pharmaceutical, 4D Pharma plc, AB Pharma, Morphosys, Roche, Avalo Therapeutics, Suzhou Connect Biopharmaceuticals, Pieris Pharma, Biosion
- GlaxoSmithKline most significant contributions to the treatment of severe asthma has been the development and commercialization of a biologic medication called Nucala (mepolizumab). Nucala is an anti-IL-5 monoclonal antibody that is used to treat severe eosinophilic asthma, a type of severe asthma that is characterized by high levels of eosinophils in the blood and airways.
- Novartis’ most significant contributions to the treatment of severe asthma has been the development and commercialization of a biologic medication called Xolair (omalizumab). Xolair is an anti-IgE monoclonal antibody that is used to treat severe allergic asthma, a type of severe asthma that is triggered by allergens such as pollen, dust mites, and animal dander.
Key Segments Profiled in the Severe Asthma Treatment Industry Survey
Drug Class:
- Reslizumab
- Benralizumab
- Anti-inflammatory
Route of Administration:
- Oral
- Inhaled
- Intravenous
- Subcutaneous
Device Type:
- Dry powder inhalers
- Metered dose inhalers
- Soft mist inhalers
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa(MEA)
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